FNCL — Fidelity MSCI Financials Index ETF

FNCL Price Performance — Growth of $10,000

Value of a $10,000 investment in FNCL over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

FNCL Drawdown

The "underwater" chart: FNCL's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Fidelity MSCI Financials Index ETF (FNCL) is a Financial category fund issued by Fidelity Investments with $2.23 billion in assets under management. Currently trading at $80.82, the fund holds an overall rank of #279 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 58.6 out of 100. Investors can access the fund with an expense ratio of 0.084% while receiving a dividend yield of 1.65%. The fund's position within a category containing 9 ETFs tracked by ETFValuer suggests a competitive landscape for financial sector exposure. The substantial asset base indicates significant investor adoption relative to the fund's specific niche. Its pricing and yield profile reflect the cost and income characteristics typical of this index-based approach. The overall ranking places the fund in the lower half of the total universe of tracked ETFs.

Short-term performance shows a decline of 1.46% over the last day, followed by a recovery to a 1.16% gain over one week. Monthly returns accelerated to 5.41%, which extended into a 7.70% gain over six months and a 9.45% increase over three months. Year-to-date returns stand at 4.62%, while the one-year return reached 9.05%. A significant divergence appears in the longer-term data, where the three-year return surged to 72.26%. This trajectory indicates a pattern where recent short-term fluctuations have been overshadowed by strong multi-year growth. The fund's performance shows a clear acceleration when comparing the one-year horizon to the three-year period.

The fund carries a Moderate volatility label and a beta of 0.83, suggesting it moves less than the broader market in both directions. A Sharpe ratio of 0.27 indicates that the risk-adjusted returns have been relatively low compared to the volatility experienced. The maximum drawdown of -17.29% highlights the potential for significant temporary losses during market downturns. This combination of a beta below 1.0 and a moderate volatility label implies the fund may offer some cushion during market declines while still participating in upward moves. However, the low Sharpe ratio suggests that the returns generated have not fully compensated for the level of risk taken. The substantial three-year return contrasts with the moderate drawdown, showing resilience over the long term despite short-term volatility.

AI-generated summary based on the data on this page.

FNCL Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 47.6% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how FNCL's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With FNCL

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with FNCL's top 10 — XLF overlaps most, holding 10 of the same companies as FNCL's top 10 (47.6% of FNCL's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.61% (as of 2026-07-28) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.21 (as of 2026-07-28) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FNCL Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 7.52% and average daily volume is 104K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $2.23B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: FNCL is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

FNCL Performance History

How FNCL Compares to Other Financial ETFs